By StaffFriday, July 12, 2013 12:25 AM
PADUA, Italy—
Safilo Group (SFL.MI) and
Fossil Group Inc. have announced the renewal of their eyewear licensing agreement for the design, manufacturing and distribution of Fossil branded optical frames and the addition of sunglasses. The new agreement, which now runs until Dec. 31, 2018, has also been extended to include global distribution, where the previous agreement for only optical frames only covered distribution in the U.S. and Canada.

“Fossil is an extraordinary partner and we are very satisfied with the results we have achieved in North America over the past few years,” said Roberto Vedovotto, CEO of Safilo Group. “We are truly convinced that there is still significant potential to be exploited all over the world with a brand which represents its authentic vintage style in such a comprehensive way. With the aim to further reinforce their collaboration in order to achieve faster growth in the eyewear category we believe there are important opportunities for development, particularly in EMEA and Latin America, but also in Asia where the brand is already successful.”

Kosta N. Kartsotis, chairman and CEO of Fossil Group Inc., added, “Safilo has been a great partner for us and we are excited to add the sunglass category and expand optical frames to the global market. This licensing agreement will allow us to leverage Safilo’s expertise and distribution to increase our Fossil brand global eyewear offerings.”